The increase in rooms represents a 6.4% increase from 2022
Real estate consultancy firm Knight Frank’s latest report on the UAE's hospitality sector shows some impressive figures.
According to Knight Frank's analysis, approximately 154,000 rooms will be operating in Dubai's hospitality sector by the end of 2023, marking a substantial 6.4% increase from 2022.
Hospitality groups are driving this growth, with Accor securing the top spot with 71,820 existing rooms and 49,510 more in the pipeline expected for completion by 2030.
Following closely is Marriott International with 63,790 existing rooms and 52,790 planned; IHG Hotels & Resorts, with 35,140 rooms and 22,120 in development; Hilton Worldwide with 33,450 rooms and 39,860 upcoming; Radisson Hotels with 22,830 rooms and 11,651 to come; and Rotana Hotels, with 16,976 rooms and 10,807 in development.
Faisal Durrani, Knight Frank partner and head of research, MENA, explained: “The UAE’s hotel inventory continues to expand, helping to support city’s such as Dubai, which has emerged not only as the world’s most popular destination for two years running according to Trip Advisor, but the emirate has also earned the accolade of having the world’s highest occupancy levels during the first half of 2023 at 78%.”
Knight Frank partner, head of Hospitality, Tourism and Leisure Advisory Turab Saleem added: “Dubai continues to dominate the UAE's hospitality landscape, with 70% of the country's upcoming supply concentrated in the city.
"In H1 2023, Dubai welcomed 8.6 million tourists, marking a significant 20% increase from 2022. This surge underscores Dubai's enduring appeal as a global tourist hotspot. Internationally branded hotels constitute 67% of Dubai's existing supply, highlighting the city's global appeal.”
For more information, visit www.knightfrank.ae